My two cents on this.
Austin will follow Montreal on the 2012 F1 Calender. That is how it was set up with Indy. The need to consider travel costs, so November will not happen.
A race in NYC.... I will not say never.. but for it to happen would take Government involvement. (at a National Level) That is where all the new venues are coming from and have so for the last 8-10 years. No other way to come up with the fees needed to put on a F1 Race.
Monticello while it is certainly a VERY nice track, and supposedly meets FIA standards. If you have never been there.... it need a lot of infrastructure work. (Garages,pits access roads) Not that that can't be done.

Then you have to take into consideration the surrounding area... The Teams would have to commute to an from NYC. The Monticello area is... how to put it politely.... a welfare area.

Again my opinion, based on being a Marshal and worked F1 events for the past 12 years.

Austin is a great city. If they take their lead from Montreal it will be fantastic! I am looking forward to working back-to-back F1 Races in N. America again next year!!

Early projects estimated 12hrs of travel just from the City core. Granted, the infrastructure should be improved by the time the race weekend comes. I'll have to find myself a room, and pick which stands I want to be in. 2012 will be special since it will be the first and last time that track likely sees NA F1 engines.

I also can't believe it'll be in June. It's been high 90's all week here. This will surely be one of the hottest races of the year. Here is the 2012 calendar.

You can't get flights this early or I would have that too. If a bunch of us are going do you guy want to try and setup a suite or group track pass??? Just a thought. My dad works for exxon so I am going to try and get him to get tickets for me, but if anyone else has a hookup I would be willing to join in on the expense.

Early projects estimated 12hrs of travel just from the City core. Granted, the infrastructure should be improved by the time the race weekend comes. I'll have to find myself a room, and pick which stands I want to be in. 2012 will be special since it will be the first and last time that track likely sees NA F1 engines.

I also can't believe it'll be in June. It's been high 90's all week here. This will surely be one of the hottest races of the year. Here is the 2012 calendar.

US Grand Prix lawyer Richard Suttle has admitted the Austin City Council has the power to scupper the project.

According to local Kxan news, council members learned this week that they must sign off as the "endorsing municipality" in order for race organisers to access the $25 million per year promised by the Texas government. That will involve the City of Austin contributing $4 million to the Major Events Trust Fund.

"There is a distinct possibility that if this process doesn't work, that the project and the 1000 people that are working right now, their jobs could be in jeopardy and the event could be in jeopardy," Suttle said.

There is no guarantee the Austin council members will play ball. "Apparently there is no plan B," said one member. "I think that is an interesting assumption to make that something like that is going to be approved."

Suttle said the first $4 million will be paid by the race organisers, while in future it will be funded by extra hotel, alcohol and car rental taxes paid by spectators visiting Austin. He admitted that organisers took a gamble that the council would approve the plan. "We are hoping that it's not just a bet, it's a confidence in our city that they will realise what a benefit this will be for our community and our region," said Suttle.

Austin mayor Lee Leffingwell also acknowledged the risk. "If it's not approved by the city and council, they [the organisers] will have some assets that are sunk. They'd have to go back and make another use of that property."

The council's decision is due later in June, with the organisers' sanctioning fee for 2012 needing to be paid in full to Bernie Ecclestone at the end of July.

Asked if the project could be scrapped, Suttle is quoted by the American Statesman newspaper: "That's a distinct possibility."

The race organizers will front the first year's 4 million. The remaining 9 years 4 million/year will come from taxes from tourists visiting for the race.

Some council members had stated they are happy to hear no actual public tax dollars will be used to fund the race.

I don't see a minor 4 million a year holding up a project and event of this magnitude. For example, Australia pays something like $50 mill a year for the Australian Grand Prix.

you'll be surprised...

$4million is a lot if the council are full of fiscal conservatives. I say the investors needs to start getting their checkbooks out, they're going to need to "bribe" some people to get this through. I don't doubt they can't, so I think this event will go on for 2012.

Fears have eased that Austin's city council could scupper the 2012 US Grand Prix.

It emerged last week that if council members refuse to sign up as "endorsing municipality", the race organisers' $25 million in annual state funding for the Circuit of the Americas project is in doubt. The council agreement would involve Austin contributing $4 million per year to Texas' Major Events Trust Fund, even though the race organisers are pledging to pick up the bill.

Earlier reports had said the organisers were hoping the $4 million would be funded by taxpayers in subsequent years, but it now emerges that they have agreed to pay up for the full decade of the contract.

"This confirms what I've been saying all along," confirmed Austin mayor Lee Leffingwell. "[Namely] that the city would be contributing no up-front money, and that the city would not be at risk,"

Asked if the agreement will be formalised by the time the council meets next week, he told the Austin Chronicle: "I would hope so."